Peter Thiel’s Founders Fund Bags $1.3 Billion

Founders Fund, the venture-capital firm known for prescient bets on some of the biggest names in Silicon Valley, has closed on a $1.3 billion fund. San Francisco-based Founders Fund said Friday the new fund, Founders Fund VI, brings its capital under management to more than $3 billion. The commitments to Founders Fund’s sixth fund, which the firm didn’t disclose whether it was oversubscribed, come as marquee Valley firms have been reloading on capital. This month, Accel raised $2 billion in two new funds. Others that raised hefty funds of late include Norwest Venture Partners, Lightspeed Venture Partners and Battery Ventures.